Knight Lane

Brand new Shared Ownership bungalows coming soon. Register now to be the first to view.

Built by Persimmon Homes, seven shared ownership homes are now available. In the heart of Taunton, Knights Lane. This is the perfect opportunity to find a home at affordable price for you. Buy between 30% to 75%.

With only seven homes available register now to ensure you have the best opportunity to reserve your home. Viewings will be on an appointment only basis.

How much will this cost?

You can buy shares as low as 30% at Abbey Place. Below is a breakdown of how much buying at Knights Lane will cost.

Full Market Cost: £302,500

30% Share - £90,750

Rent - £485.26

5% Deposit - £4,537.50

50% Share - £151,250

Rent - £346.61

5% Deposit - £7,562.50

75% Share - £226,875

Rent - £173.31

5% Deposit - £11,343.75

Knight’s Lane is a perfect opportunity to be able to afford a home without having to compromise. Found in the TA2 postcode, you are a 10 minute drive to Taunton train station. With amenities nearby; you will have the luxury of countrywide on your doorstep with a major town a stone’s throw away.

WHAT IS SHARED OWNERSHIP?

Shared Ownership is a government-backed scheme that has been around for more than 35 years and has helped over 200,000 people buy a home.

WHY BUY SHARED OWNERSHIP?

Shared Ownership is the perfect way to get on to the housing ladder if your finances mean that your housing needs and your current situation don’t quite match. Better still, it’s usually cheaper than renting.

HOW DOES IT WORK?

With Shared Ownership you buy a percentage of the home’s overall value.You can buy between a 25% and 75% share to start with, and you must always buy the maximum you can afford. You pay rent on the share you don’t buy. The rent increases annually, but is always subsidised and is worked out using a percentage of the value of the share you don’t own.

If you’re looking to buy with Shared Ownership you’ll need a mortgage in the same way you would if you were buying on the open market. Shared Ownership mortgages are available from most mortgage lenders, who will lend to you if you have a 5% deposit or greater. This means that you could buy your dream home, in your dream area, without needing a big deposit or big salary.

ARE YOU ELIGIBLE?

There are two things to think about when looking into Shared Ownership:

• You must earn less than £80,000.

• You must be a first-time buyer, or no longer have your name attached to a house (if you are selling your home at the moment, speak to your provider, they will be able to advise you).

Particulars

Tenure: Leasehold
Council Tax Band: New build - Council tax band to be determined